Coffey, Missouri Property Taxes
The median property tax rate in Coffey, MO is 1.61%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Coffey at $25,300, the typical annual property tax bill reaches $407, which is significantly lower than the national median of $2,690. Property taxes in Coffey are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coffey's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Coffey or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coffey, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Coffey Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Coffey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coffey to provide an estimate of your property tax bill. This invaluable tool aids in understanding potential tax liabilities. For those keen on observing trends at a neighborhood level, more localized information is available below. Your property’s assessed value, determined by the county for tax calculations, takes into account any applicable exemptions.
Property Tax Rates Across Coffey, Missouri
Property taxes in Coffey, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coffey is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Coffey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coffey estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Coffey's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64636 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Coffey provides valuable insights into the varying tax landscape across Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coffey Tax Rate
1.61%
Average Daviess County Tax Rate
1.28%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coffey, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64636 | 1.19% | 1.33% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Coffey, Missouri
In Coffey, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Daviess County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Coffey, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Coffey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Coffey is $407.00 in the zip code 64636, while the lowest median tax bill is also $407.00 in the same zip code.
Average Coffey Assessed Value
$25,300
Average Daviess County Assessed Value
$66,100
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coffey, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64636 | $4,994 | $10,520 | $25,300 | $67,050 | $103,728 |
Source: Ownwell
Property Tax Bills Across Coffey, Missouri
In Coffey, located in Daviess County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Coffey is $25,300. To determine the tax bill, local tax rates are applied to the assessed value. For homeowners, this means that the amount they owe can vary significantly. For instance, the 25th percentile tax bill is $150, while the 75th percentile tax bill is $866, and the 90th percentile tax bill is $1,428. These variations are influenced by factors such as property location, improvements, and local tax levies. With the national median property tax rate at 0.99%, homeowners in Coffey may find their tax bills to be relatively modest in comparison, reflecting the lower property values in the region. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Coffey Tax Bill
$407
Average Daviess County Tax Bill
$845
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Coffey, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64636 | $80 | $150 | $407 | $866 | $1,428 |
Source: Ownwell